As well as having repercussions for each of the unsuccessful clubs, Everton and particularly striker Romelu Lukaku will be affected.
Lukaku has been strongly linked with a move to sign for Chelsea, with ESPN reporting last month he has his heart set on a return to the club.
Belgium's Romelu Lukaku reacts after missing a chance to score
International teammate Batshuayi's move to Chelsea would end his chances of a Stamford Bridge comeback, for this summer at least.
The Mail reported a fortnight ago that Lukaku could be offered a new deal at Everton, and he may now push for this with Chelsea off the table.
Lukaku has though made no secret about his desire to play Champions League football, but Everton are seeking a hefty price for him, more than the £30 million Chelsea are paying for Batshuayi.
This coupled with poor end of season form and a so far disappointing Euro 2016 means he has not got a lot of options, but he could yet change that if he can kick on as Belgium prepare for the quarter-finals.
Belgium's Romelu Lukaku is congratulated by head coach Marc Wilmots as he is substituted
Belgium's Michy Batshuayi scores their second goal